Tax Enquiries
In the UK virtually all of the taxes are now self assessed which means that work that was once performed by Inspectors of Taxes is now carried out by the tax payer or more typically their accountant.
The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.
As a deterrent to taxpayers submitting incomplete or incorrect Returns, the Government has put substantial resources into tax enquiries and investigations branches. Inspectors of Taxes have received specialist training and experienced accountants have been employed to strengthen the enquiry function.
Indeed self assessment was introduced to shift the administration of taxation away from HM Revenue & Customs to the taxpayer thus freeing up the Inspectors of Taxes' time to concentrate on tax enquiries. Consequently the probability of a tax payer being subjected to an enquiry has never been higher.
HM Revenue & Customs no longer needs to justify the selection of any particular taxpayer for enquiry. Some Tax Returns are selected by computer purely at random, even before their Return has been submitted.
Dealing with an HM Revenue & Customs enquiry, can be a stressful, time consuming and expensive experience, which can be very disruptive to the running of your business.
We can save you a lot of time, worry, and money by dealing with taxation affairs to the highest possible standards. We will prepare all the necessary computations, complete your return and offer advice on how you can minimise your tax liability.
And most importantly if you are selected for a tax enquiry, whether on a random basis or because the Inspector of Taxes has a specific matter he wishes raise, we will be there supporting you all the way to bring the enquiry to a satisfactory, prompt and cost effective conclusion.
Tax enquiries and investigations take the form of:
- VAT control visits
- an examination by HM Revenue & Customs or Contributions Agency into Employer records (PAYE, NIC, Benefits in Kind, Employment Status)
- an enquiry into Self Assessment Tax Returns (Income Tax, Capital Gains Tax)
- an enquiry into Corporation Tax Self Assessment Tax Returns
In our experience HM Revenue & Customs are adopting a far more aggressive approach and it is essential that you are properly and robustly represented to ensure that your interests are protected, that the tax authorities do not abuse their power and that they conduct their enquiry in a professional and proper manner.
After all, the objective of the enquiry is to ensure that you pay the right amount of tax; no more, no less.
For details of how you can minimise the chances of being selected for a tax enquiry, for a tax health check or if you or your company has already been selected for enquiry please contact us.
Inevitably an investigation will require professional advice which will, of course, involve additional expense for the client at this stressful time. Our Professional Expenses Insurance Schemes therefore cover the costs of representation in the event of disputes with, or investigations by, the tax authorities. These plans will provide you with complete peace of mind.
For further details please contact us.